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Global remittance platform

  • US 20060106701A1
  • Filed: 10/27/2005
  • Published: 05/18/2006
  • Est. Priority Date: 10/29/2004
  • Status: Active Grant
First Claim
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1. A system that remits funds from a remitter to a beneficiary, comprising:

  • a store vision teller system (SVT) for creating and transmitting a remittance transaction and a phone bank component for creating and transmitting a remittance transaction;

    an enterprise financial system that receives said transmitted remittance transaction data from either said SVT and said phone bank component and that processes said transmitted remittance transaction data and outputs said processed transaction data;

    a remittance network member account that receives and stores said processed transaction data to reconcile and settle said remittance transaction;

    an international remittance engine (IRE) that receives and processes said processed transaction data to create a first output file in a predetermined message format and to output said formatted file to an external remittance network member system;

    an enterprise remittance general ledger system that receives a second output file from said IRE and uses said second output file to send a reconcile and settlement message to said remittance network member account for reconcilement and settlement; and

    a demand deposit account that receives funds associated with said remittance transaction from said enterprise remittance general ledger system resulting in funds being available in said remittance network member system.

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